"We also continue to ensure that we are maintaining our existing mortgage member pricing pledge"
Nationwide Building Society has reduced fixed rates across its mortgage range by up to 0.75% for both new and existing members.
First-time buyer products have seen reductions across two, three, five and ten-year fixed rate products up to 95% LTV. At 60% LTV, two and three-year fixed rates now start at 4.74%, while a five-year fix at 95% LTV has reduced by 0.30% to 5.59%.
A ten-year fixed rate at 75% LTV has seen the largest reduction of 0.75% and is now available at 4.34% for first-time buyers, remortgaging and home movers.
For the Society’s existing members moving home, Nationwide is reducing fixed rates by up to 0.75% on two, three, five and ten-year fixed rate products up to 95% LTV. Fixed rate shared equity rates up to 80% LTV are also being reduced by up to 0.05%.
Nationwide is also reducing rates on selected fixed rate switcher products by up to 0.30%. This continues the Society’s existing mortgage member pricing pledge, meaning Nationwide’s switcher product rates will be the same or lower than remortgage equivalents.
For those looking to borrow more, Nationwide is also reducing selected two, three, five and ten-year fixed rates on its additional borrowing range by up to 0.20%, while the rate on green additional borrowing is being reduced by 0.16% to 4.18%.
Following the recent increase in Bank Rate, two-year tracker rates will increase by up to 0.50%.
Henry Jordan, director of mortgages at Nationwide Building Society, said: “We have made a number of rate reductions on our fixed rates since the start of the year and these cuts will make sure our entire range remains competitive for all types of borrowers. We also continue to ensure that we are maintaining our existing mortgage member pricing pledge where our switcher rates are the same or lower than remortgage equivalents.”
